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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Right now, the Washington State Estate Tax Exemption is
<u>$2,193,000</u>. The Exemption is supposed to be indexed for inflation; however, the Consumer Price Index referenced in RCW 83.100.020 no longer exists (the CPI index changed in 2018). Without a change to the law, the Exemption will remain the same indefinitely.
HB 1375 will fix this issue by updating the CPI reference and making an adjustment for the last seven years of missed inflation adjustments. This change will increase the Exemption to
<u>$2,959,000</u> for deaths on or after August 1, 2025.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">A hearing has been scheduled for HB 1375 on Thursday February 20<sup>th</sup> at 1:30pm</span></b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">.
<b>If this issue is important to you, please sign up to testify at the hearing or submit written testimony (see details below).
<o:p></o:p></b></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">While we have sent a letter (see attached) to Representatives Berg and Orcutt outlining support for this legislative change, it would be helpful to get more people to sign
up for the hearing. As previously mentioned, in light of GR 12.2 and <i>Keller v. State Bar of California
</i>(1990), the RPPT Section cannot actually take a position on most legislation. BUT members of the WSBA in their individual capacities are still allowed to take a position on legislation (see attached for more information).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">The deadline to register to testify (in person or remotely) is generally one hour before the hearing. In this case, that’s 12:30pm on 2/20. You can submit written testimony
up to 24 hours after the hearing start time. The link to register to testify is below – it has more detailed info:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><img width="727" height="545" style="width:7.5739in;height:5.6782in" id="Picture_x0020_68485212" src="cid:image002.png@01DB7E26.3B7BFCC0"><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><a href="https://app.leg.wa.gov/billsummary?BillNumber=1375&Initiative=False&Year=2025">https://app.leg.wa.gov/billsummary?BillNumber=1375&Initiative=False&Year=2025</a>
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><a href="https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32814">https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32814</a></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Liberty Upton,
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">WSBA RPPT, Probate and Trust Council Member<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Liberty Upton</span><span style="mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Attorney<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><img border="0" width="87" height="63" style="width:.9043in;height:.6521in" id="Picture_x0020_1" src="cid:image001.png@01DB7E26.278C8860"><o:p></o:p></span></p>
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<span style="font-size:12.0pt;font-family:"Times New Roman",serif">Tel (206) 382-4414 (ex. 232) / Fax (206) 382-4412 /<span style="color:#2F5496">
<u><a href="mailto:lupton@khbblaw.com"><span style="color:#0563C1">lupton@khbblaw.com</span></a></u></span><o:p></o:p></span></p>
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<span style="font-size:12.0pt;font-family:"Times New Roman",serif">705 Second Avenue / Suite 800 / Seattle, WA 98104 /<span style="color:#2F5496">
<u><a href="http://www.khbblaw.com/"><span style="color:#2F5496">www.khbblaw.com</span></a><o:p></o:p></u></span></span></p>
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<i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:red"><o:p></o:p></span></i></p>
<p class="MsoNormal"><o:p> </o:p></p>
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